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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 21:17

Profit of Lofbergs Baltic dropped three times in its financial year

BC, Riga, 23.11.2017.Print version
Sales of Lofbergs Baltic (formerly, Melna Kafija) coffee producer in the past financial year from July 1, 2016, until June 30, 2017, generated EUR 14.197 million, up 3% from a year ago, while the company’s profit dropped three times to EUR 211,950, writes LETA, according to Firmas.lv business database.

The company’s management said that sales did not change significantly compared to the previous year because of changes in coffee prices in the world market.

 

In 2017-2018 the company plans to invest in expanding the production premises and new equipment, thus, increasing the company’s efficiency and production capacity.

 

The company also plans to develop operation of its Lithuanian branch, increasing its profitability and continuing its development and growth.

 

As reported, in the previous financial year from July 1, 2015, until June 30, 2016, Lofbergs Baltic posted EUR 13.785 million in sales and earned EUR 630.807 in profit.

 

The company is a part of Swedish family business AB Anders Lofberg. The company sells its products in Latvia and exports them to Lithuania, Estonia, Finland, Denmark, and other countries.

 

The Swedish family-owned coffee roasting company AB Anders Lofberg is one of the world's largest importers of ecological and Fairtrade labelled coffee. Its central office is situated in Karlstad, Sweden, and it has coffee roasting houses in Sweden, Latvia, Norway, Denmark and the UK.

 






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